Axelera raises $68M Series B funding to accelerate next-gen AI

Eindhoven-headquartered Axelera AI has announced the close of a 68-million-dollar Series B financing round. After an equally oversubscribed Series A round, this brings the total amount raised to 120 million dollars. The new capital enables the European scale-up to grow its AI inference solutions based on its proprietary digital in-memory computing and RISC-V technology. In just three years, the company has built a team of 180+ employees in 18 countries and it has visibility into a strong business pipeline exceeding 100 million dollars.

Axelera provides purpose-built AI hardware acceleration technology for AI inference, including computer vision and generative AI applications. Its first-generation product is the Metis platform, a holistic hardware and software solution for edge AI inference that achieves a 3-5x increase in efficiency and performance at a fraction of the cost of alternative solutions. Headquartered in the AI Innovation Center of the High Tech Campus Eindhoven, the company has R&D offices in Belgium, Switzerland, Italy and the UK.

The Series B funding fosters global expansion for Axelera with a focus on growth opportunities in North America, Europe and the Middle East and across key vertical markets such as automotive, healthcare, Industry 4.0, retail, robots and drones, surveillance and more. The money also enables the company to broaden its future product offerings from the edge to the data center to address the growing computing needs for generative AI, large language models and large multi-modal models. This market expansion includes high-performance computing by designing high-efficiency, high-performance and price-competitive AI accelerators to power future exa-scale and peta-scale HPC centers.